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Government Grants – What do you qualify for?

In an effort to stimulate the economy after an unprecedented start to 2020, both the state and Federal Governments have announced grants to help bolster the building industry and assist those looking to get into their first homes.

The following is a snapshot of the available grants, how much they are and who qualifies.


The Federal Government will give eligible Australians $25,000 to build or substantially renovate their homes with the view to boost demand in the construction sector and keep building workers employed. The “HomeBuilder” scheme is designed for owner-occupiers only with the recipients required to spend at least $150,000 of their own money. To qualify you must enter into a building contract with a register builder not as an owner-builder.

The grants, which will be means tested will be available to those couples earning less than $200,000 per year and individuals making up to $125,000 per year. New builds will be capped at $750,000 while renovations are eligible between $150,000 and $750,000.


The WA State Government has unveiled a stimulus package called the Building Bonus for both owner-occupier and investors who enter into a contract to build a new house by 31 December 2020. This scheme will not be means tested and no property value caps will be applicable. It may also be available to those who purchase a property in a single- storey development which is already under construction, such as a townhouse.



The First Home Buyer Grant of $10,000 is also still available for those first home buyers who purchase a newly built property or enter into a contract to build a new home. The property value applicable is up to $750,000 south of the 26th parallel and $1million for properties north of the 26th parallel. In addition, first home buyers are eligible to be exempt from stamp duty up to $430,000 with the duty payable above this amount calculated at a scaled amount to $530,000. It could be conceivable that a first home buyer constructing a home may not only qualify for the FHOG but the “HomeBuilder “and “Building Bonus”, equating to $55,000 plus stamp duty saved.


The First Home Loan Deposit Scheme will be releasing another 10,000 scheme places for the next financial year from 1st July 2020.  This programme, which currently has 27 participating lenders, aims to assist first home buyers purchase a home with as little as 5% deposit. The National Housing Finance and Investment Corporation guarantees up to 15% of the property being purchased negating the Lender’s Mortgage Insurance charge normally applied to low deposit home loans.


First announced by the WA State Government in October 2019, the stamp duty rebate of 75% of the duty payable applies to contracts signed for off the plan apartment purchases. Applicable to both investment and owner-occupied properties not yet built, the amount is capped at $50,000 and is payable after settlement of the property.

To complement this, the government recently expanded the scheme to include properties under construction but available to owner occupiers only and capped at $25,000

The suite of grants available could potentially not only assist first home buyers but next homeowners and investors alike. If building or renovating has been on your radar screen there may be no better time to review your options and see what you may be able to qualify for.

The above information is just a snapshot of the grants available and for more detailed information and to see what you could qualify for, contact one of the Blackburne Mortgage Broking team to get started.

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Paul Prindiville


0438 196 695